Economics and Investing:

It’s the end of cash and all your purchases will now be tracked and stored. Fingerprints to be tested as ‘currency’ – DMS

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James Rickards-Gold $10,000 to $50,000 per Ounce – G.G.

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Items from Professor Preponomics:

US News

US Factory Data Signals Further Slowdown in Economic Growth (Reuters) Excerpt: “The Commerce Department said on Monday new orders for manufactured goods declined 1.7 percent as demand fell broadly, reversing January’s downwardly revised 1.2 percent increase. Orders have declined in 14 of the last 19 months. They were previously reported to have increased 1.6 percent in January.”

Golden State Pension Deficit: $1.2 Trillion (The American Interest) Excerpt: “It’s common for reports on states’ pension deficits to throw around figures in the hundreds of millions, the billions, or even the tens of billions. But according to a new estimate of California’s pension hole from the Stanford Institute for Economic Policy Research, it’s time to bring out the t-word.”

International News

Lagarrde See Political Dangers Galore with Global Economy Tepid (Bloomberg) Excerpt: “The world outlook is clouded by “weak growth, no new jobs, no high inflation, still high debt – all those things that should be low and that are high….”

OECD Economist: Weak Global Growth May Prevent Governments from Being Able to Pay Pensions (US News & World Report) Excerpt: “…to jump-start growth, countries need continued stimulus from central banks, government spending and tax policies that encourage expansion and economic reforms, such as making regulations more consistent from country to country.”

Greece Challenges IMF Over “Debt Transcript Leak” (BBC News) Excerpt: “A transcript, published by Wikileaks, shows the officials discussing ways of putting pressure on Greece, Germany and the EU to get them to wrap up talks. One of those quoted suggests a crisis “event” may be needed to force a conclusion.”

Personal Economics and Household Finance

5 Big Mistakes to Avoid When You Start Saving Money (Clark Howard) Excerpt: “While the concept might mean different things to different people, it’s really about having control over your own life and your own decisions.”

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